On July 1, 2020, Academic Learning Services entered its second month of operations. On July 31, 2020, Breanne Allarie, the owner, finalized the companys records that showed the following items.

Accounts payable	$	3,150
Accounts receivable		5,300
Cash		4,900
Computer equipment		5,500
Furniture		5,100
Breanne Allarie, capital, June 30, 2020*		20,600
Office rent expense		5,800
Owners investments during July 2020		4,500
Owners withdrawals		4,300
Supplies		2,600
Textbook rental revenue		630
Tutoring revenue		7,500
wages expense		1,870
Utilities expense		1,010

*Hint: The ending capital balance for one period is the beginning capital balance for the next period. Use the above information to prepare a July income statement.